THE IMPORTANCE OF DOING RISK SURVEYS IN RISK MANAGEMENT.   Risk management is a vital function for any organization that wants to achieve its strategic goals and protect its reputation, assets, and stakeholders from potential threats. Risk management involves identifying, assessing, prioritizing, mitigating, and monitoring risks across different domains and levels of the organization.   One of the key tools for effective risk management is conducting risk surveys. Risk surveys are systematic and structured ways of collecting information and opinions from relevant internal a ..read more

Directors and Officers Liability Insurance- Part 2 In our previous article, we got to see that directors and officers of a company can be held legally liable for any wrongful acts they commit while performing their duties on behalf of the company. A director or officer of a company has a fiduciary responsibility to the shareholders, employees, and any other stakeholders in the company. In discharging their duties, one or two things may go wrong which would put the director or officer in conflict with the stakeholder. A standard D&O cover will offer protection for them through the Side A in ..read more

  CAPTIVE REINSURANCE, LIFE IN THE SHADOWS   THE word reinsurance has a reassuring ring, conjuring up an image of layer upon layer of precaution. And that, roughly, is the intention of the product, allowing insurers to insure themselves. By assuming a share of the liabilities of many different insurance firms, reinsurance firms make it possible for mammoth claims following a storm or earthquake to be paid without bringing down the insurers that issued most of the policies in the affected area. A new form of reinsurance proliferating in America, however, does more or less the oppos ..read more

  CYBER RISKS AND REINSURANCE   Cyber risk is a top concern for reinsurers, according to a new report from PwC. PwC’s new analysis ranks as the most serious concern for the reinsurance space. Cyber risk topped the list, followed by worries that the industry is unprepared for weather changes. The rankings are a departure from the past when regulation and a challenging market environment regularly topped the reinsurer’s list of worries. Cyber risk is now a systemic concern for insurers, reinsurers, and clients, the Royal Gazette reported. However, PwC found that many businesses are ..read more

  INSURANCE SECTOR RESPONSE IN COVID-19 The COVID-19 pandemic has amplified the importance of the insurance sector’s role in development and in the economic resilience of businesses and individuals. As of 14th may 2020, the entire Africa was spread with the virus and almost the entire global population is in the lock down. Lockdown restrictions across the world have led to insurers across the continent working remotely. Regulators in many countries are similarly being required to supervise remotely in many countries. The insurance industry is generally well prepared for majo ..read more

REINSURANCE CLAIMS DURING COVID-19   Reinsurance is the practice whereby insurers/captives transfer portions of their risk portfolios to other parties (reinsurance markets, capital markets) by some form of agreement and share losses from an insurance claim as per policy terms and conditions with such parties. These transfer is through reinsurance agreements, captive arrangements (https://www.artemis) and catastrophic bonds (https://www.artemis.) In the event of payable claim both the ceding party and the re insurer participate on paying the claim as per the terms and conditions of the a ..read more

How to maximize your resources to build strong personal brands post-COVID-1 ..read more

  Evolving role of a Reinsurance Broker The reinsurance broker key function it is to bridge the reinsurance needs of the reinsured and reinsurer to secure reinsurance terms agreeable to both parties. The reinsurance broker  often will assist the reinsured in planning and developing its reinsurance program, put together the reinsurance proposal (called the placing information) and relevant premium and loss statistics to present to the reinsurance market when soliciting for reinsurance support, propose to the reinsured the reinsurers terms and conditions, and place firm orders rein ..read more

  HOW TO BUILD STRONG AND SUSTAINABLE BRANDS   ” It’s important to build a personal brand because it’s the only thing you’re going to have. Your reputation online, and in the new business world is pretty much the game, so you’ve got to be a good person. You can’t hide anything, and more importantly, you’ve got to be out there at some level.” – Gary Vaynerchuk Join Khula Community as our tutor Racheal Senyondo will be live discussing how to build strong and sustainable brands on Saturday, 5th September 2020 at 10:00 AM-12:00 PM. To secure or book your space, kindly make your payment ..read more

In our previous article, we got to see that directors and officers of a company can be held legally liable for any wrongful acts they commit while performing their duties on behalf of the company. A director or officer of a company has a fiduciary responsibility to the shareholders, employees, and any other stakeholders in the company. In discharging their duties, one or two things may go wrong which would put the director or officer in conflict with the stakeholder. A standard D&O cover will offer protection for them through the Side A insuring clause of the D&O cover. For Instances w ..read more